HKIAC Average Costs and Duration
The Hong Kong International Arbitration Centre (“HKIAC”) is pleased to release an updated report on the average costs and duration of an HKIAC arbitration. The data below reflects all cases administered by HKIAC under the 2013 HKIAC Administered Arbitration Rules (the “Rules”) in which a final award was issued between 1 November 2013 and 13 October 2017.
The overall findings are listed below:
- The median duration of an HKIAC arbitration is 12.43 months from the date of commencement of the arbitration to the date of the final award. The mean duration is 14.63 months.
- The median costs of arbitration, which include the arbitral tribunal’s fees and HKIAC’s registration fee and administrative fee, are US$40,671. The mean costs of arbitration are US$106,503.
The following methodology was used to produce the data:
- All arbitrations under the Rules that were concluded by final award were identified for the purposes of this report. Of the 356 arbitrations commenced under the Rules to date, 55 have concluded by final award.
- Duration refers to the period between the date of commencement of the arbitration and the date of the final award, inclusive of any stay periods.
- Costs of arbitration include the arbitral tribunal’s fees and HKIAC’s registration fee and administrative fee only.
- Under the Rules, parties have an option of paying arbitral tribunals’ fees by hourly rate (capped at HK$6,500 or approximately US$830) or by reference to an ad valorem fee scale. The vast majority of HKIAC tribunals are paid on an hourly rate basis.
Below are the mean and median costs of 50 arbitrations in which the arbitral tribunal was paid by hourly rate.
Below are the mean and median costs of 5 arbitrations in which the arbitral tribunal was paid by reference to an ad valorem fee scale.
Any queries with respect to the costs and duration of HKIAC arbitration may be sent to:
Hong Kong International Arbitration Centre
38th Floor, Two Exchange Square
8 Connaught Place
Telephone: +852 2525 2381
Fax: +852 2524 2171